Westpac's structured equity investments team, led by Suzanne Salter and Mogsheen Jadwat, quit the bank on Friday. The team is moving to CommSec, which is muscling up in the structured products department.Salter and Jadwat, who started working together at Societe Generale in the mid 1990s selling warrants, had been at Westpac for the past four years and had helped the bank establish a strong presence in the market for protected loans, capital protected hedge funds and guaranteed portfolio investments. CommSec has a similar range of products but has not achieved much market penetration. Salter and Jadwat will be given the job of promoting CommSec structured products in the financial planning community.Commonwealth Bank has big ambitions for its retail share brokerage business. CommSec is the spearhead for a move into institutional broking, equity capital markets business to sit alongside the bank's debt capital markets operations and distribution of new products, such as structured investments.Commonwealth's head of global markets and treasury Marten Touw told an analysts' briefing last month that his group was aiming to be much more innovative in its product development. Touw said the Commonwealth would be issuing more structured products and would be using CommSec as a distribution channel. Touw said: "We are working in the spaces where there is spread in the market. The majors have tended to operate in the commoditised parts of the market where there is not much spread. We are moving up the food chain."